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on the wealthy. you guys are willing to go off the fiscal cliff? >> it republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a the a time when the american economy was doing exceptionally well, then there will not be an agreement. >> while geithner was drawing a line in the sand, house speaker john boehner was busy trying to lift his jaw off the flar after geithner presented the president's debt reduction plans to him last week. >> i was just flabbergasted. i looked at him and said you can't be serious. i have just never seen anything like it. >> yes, indeed, it seems that republicans are not quite sure what to make of the president taking a harder line across the bargaining table. >> you know, the president's idea of a negotiation is roll over and do what i ask. >> i think we're going over the cliff. it's pretty clear to me they made a political calculation. the president's plan is just, quite frankly, a joke. >> i'm not sure about that, senator graham, but there will be plenty of time for jokes later this evening with every member of cong
republicans pitch their plan to avoid the fiscal cliff and like the president's plan they don't expect to win over the opposition. a sfl senate fight. will republicans reject a personal plea from their former leader bob dole. he's making a rare visit to the senate floor to make his case. and now that we've had a whole month to digest that election day data, where you'll find those who voted for every presidential winner since 1956. that's in today's deep dive. i'm chuck todd feeling a little clogged up as you might hear. the fiscal cliff counteroffer has one thing in common. the differences between the new republican plan and what the white house proposed are stark when it comes to taxes. the gop calls for $800 million in new taxes. it's half of what the white house asked for. republicans to $67 billion. the gop plan changes how security benefits would be calculated. why he favors tax rates instead of eliminating deductions. not enough revenue. less revenue equals more cuts in education. republicans ruled that out saying the new revenue would not be achieved through higher tax rates which we
in the u.s., republicans and democrats are wrangling over how to avoid falling over this fiscal cliff. this week the president sent over his plan to republicans. there was $1.5 trillion in tax increases and an additional 50 billion in stimulus spending. republicans were not happen wet offer. john boehner called the plan bait and switch and minority leader much mcconnell made him burst into laughter. >> across the globe today is world aids day, the white house marking the event by displaying a red ribbon on the north portico, a life picture of the white house, an international show of support and awareness, in a proclamation president obama says in part that the united states is committed to preventing the disease is quote, spending and ending this pandemic once and for all. >> do same-sex couples have a constitutional right to mayor? we don't know yet. the u.s. supreme court held a closed-door meeting to decide whether to hear a series of appeals. but they didn't say if they will take action on the divisive issue. some took this as a sign that nine justices need more time. we expect a
the fiscal cliff. you have republicans not just sort of modern republicans, but real conservative republicans saying we got to do what the president wants to do on taxes and debate the other issues later down the road. i don't see democrats doing something of similar hair si on their side. the president controls the game. >> why are the republicans disz i dising a $600 billion cut? why do they say that's not a credible proposal? >> it's laughable, in some respec respects, that they think the administration would come at them with something in the middle ground. that's what they did with the stimulus. they said from the get go, we're going to give republicans what they want. we expect them to meet in the middle. republicans are going to do the same thing. this is not a serious proposal. along the way, they are going to meet. it's going to be a proposal that doesn't have a trillion dollars in tax rates. >> some conservatives are encouraging republicans to go off the cliff. >> they obviously expect republicans will cave on everything. i think republicans ought to simply walk away. >> limbaugh sa
with the fiscal cliff that obama designed? this is obama's fiscal cliff. if the republicans cave, we'll have a fiscal cliff in about three or four years that's going to be the grand canyon. we're going to go collapsing. it's going to be awful. >> sean: i agree with you. >> we got to fight like william wallace in "brave heart." fight for america. we can win it in the next 30 days. >> sean: i'm with you. leslie, seriously, why can't we have some significant spending cuts now? the president, first of all, said he only wanted $800 billion when he was running, now he's doubled it, but there's no cuts. government can't find waste, fraud, abuse, cut back on their intoxication and power grab with spending? >> i agree that medicare is one program that has a lot of fraud. quite frankly the president has been very clear that they're going to be -- >> sean: when? when? >> democrats and republicans will have to suck it up. when you guys call caving in, i call compromise. >> sean: republicans compromise, cave, and -- >> we're not violating the tax pledge if we let something expire at the end of the year.
of the fact he's more willing to go over the fiscal cliff than the republicans are. why should he? because then taxes would go up on everybody in the country. they would go up on the rich and barack obama steps in and says i'm going to rescue the country from what the republicans did to save their rich folks from a haircut. i'm proposing tax cuts for 98% of the american people who deserve that. >> there's a way to head that off. isn't it the republicans should pass a bill that extends the bush tax cuts for everybody? >> they should pass two bills. first, they should pass a bill extending the payroll taxes which are going to take $2000 off the top of a family that makes $100,000 a year. the cut. that's going to go back into effect. the second thing is they should -- hold it. they should pass the -- they should reenact the bush tax cuts. send it over to the senate and say listen, harry reid, you can do what you want. you can accept these and send them to the president or you can offer to negotiate or you can reject them and we can go over the clinch but that's your call now. we don't want to
closer to the fiscal cliff i think many republicans will realize it is an indefensible position to go back to their districts and say to 100% of their constituents, your taxes are going to go up because i was protecting 2%. >> okay. let me ask you about your party because one question is why is it so important to you, to the president, to other democrats that rates go up on the 2%, the wealthiest americans, because i know there are a lot of issues at play here, but it seems as though your side will not go anywhere until you get that. is that correct? >> no, look, what's important to me and to my party is that we reduce our debt. what's important is that we reduce our debt, but not on the backs of middle class and seniors. what's important is that we have debt reduction that is big, bold and balanced. to do that, you have to cut spending. we have already voted for $2 trillion in cuts. >> you won't budge on that 2%. i just want to make crystal clear that's the deal. >> we can negotiate. i'm all for talking and reasonable compromise, but it doesn't look like we're going to be able to get
>>> tomorrow on the show, two of the men at the center of the fiscal cliff negotiations. republican representative tom cole of oklahoma and the man behind the anti-tax pledge, grover norquist. they'll both be "outfront." the new film called "zero dark 30" sparking controversy. it's based on that raid that killed osama bin laden and some charge the obama administration gave the film's producer certain access. barbara starr will be with us about that. thanks for joining us. "ac 360" starts now. >>> we begin with breaking news. new signs tonight the syrian government could be preparing to do the unthinkable, unleash chemical weapons on its own people. the united states has new intelligence suggesting syrian forces now mixing the ingredients used to make deadly serin gas. a serious civil war has progressed. the obama administration has repeatedly warned even just moving chemical weapons would be a red line that could draw a swift response. just hours ago, president obama directly addressing the assad regime about this latest intelligence. >> today, i want to make it absolutely clear to
of the white house and congress to resolve differences that would avoid the fiscal cliff. that is $1.2 trillion in automatic budget cuts and $600 billion in tax hikes that would result from the expiratin on december 31, te consequences would simply be devasting. the economic impact on the country and the american people would mean the loss of hundreds of thousands, if not millions of jobs. e very likely onset of yet another recession. the white house timothy geithner on capitol hill today. he went there empty-handed to meet the party leaders. house speaker john boehner who has already offered to raise tax revenue finds himself not in a negotiation, but rather competing in the white house media campaign. this is how speaker boehner reacted earlier today to the demands of the white house that were laid out by timothy geithner in a closed-door meeting. the treasury secretary reiterating the president's call for $1.6 trillion in new tax revenue and timothy geithner rrently offering nothing in return. in lieu of federal pending. >> first, despite the claims that the presint supports a balanced appro
to speed this morning. president obama rejecting a fiscal cliff counter offer from republicans. the gop proposal calls for $2.2 trillion in deficit savings over the next decade, including 800 billion from tax reform. 600 billion from medicare reform, 600 billion in spending cuts. the white house is refusing to consider it because it doesn't include tax hikes for the wealthiest americans. >>> and britain is rife with speculation this morning, is kate having a boy, or a girl? is she having twins? triplets? what about a name? britain is buzzing with news that prince william's wife, katherine, is pregnant. she is in a london hospital being treated for severe morning sickness. >>> students at one elementary school in atlanta will attend class in a different building this morning. dozens were sickened yesterday at their regular school by carbon monoxide poisoning. at least 49 were sent to the hospital. fire officials believe the heating system failed. later this morning we will talk to a student, a parent and a school official. >>> the judge overseeing the court marshall of nadal hassan has b
to the fiscal cliff. timothy geithner on the president's offer to to republicans followed by a response from grover norquist. >> we're trying to make it more likely we come together on a good agreement for the american people that extends tax cuts for the middle class. >> do you think we'll get a deal by the end of the year? >> i do. the only thing standing in the way of that would be a refusal by republicans to accept that rates are going to have to go up on the wealthiest americans and i don't see them doing that. >> if the president doesn't stamp his feet and get his way, he should get into a room and negotiate. instead of hearing rhetoric, that was show, no economics. let's have it in front of c-span cameras. . if the republicans are being reasonable, we'll see that, if they are not, we'll see that. >> joining us is reporter for politico. ladies first. did anything that you just heard suggest we're any closer to it an agreement? >> not really. the white house has put forth this plan, this proposal. congressional republicans, house speaker john boehner rejected it. he was flabbergasted by
the plan to avoid the fiscal cliff is a thelma and louise theory. >> we're trying to get these guys to come together and reach an agreement that's going to be good for the country and for the economy. >> then what now? with democratic senator mark warner and kelli ayote. benghazi and obama's second term. former hewlett-packard ceo carly fiorina. i'm candy crowley. and this is "state of the union." >>> republicans call -- sufficed to say, it is unacceptable to them. the president's opening round offer includes $1.6 trillion in new taxes, $400 billion in savings from medicare and other entitlement programs, $50 billion in new stimulus spending, and an additional $285 billion to fund depreciation and mortgage programs, unemployment insurance benefits, and payroll tax cuts. >> this extra spending, heats actually greater than the amount they're willing to cut. i mean, it's -- it was not a serious proposal. >> wile his aides were on capitol hill offering up the opening bid, the president was making his case in pennsylvania campaign style. >> at the end of the day a clear majority of americans, de
because the fiscal cliff tops allow him to back the opposition into a corner by framing this as republicans raising taxes. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. that is sort of like a lump of coal you get for christmas. >> congressional democrats operating like they don't have to compromise on spending or taxes. >> elections have consequences. the president campaigned, made it very clear. made very clear thathe was supporting tax cuts for the middle-class, that he wanted the expiration of the tax cuts for the high end. >> very little progress among the inside player so far, the president plans to keep pressuring republicans from the outside. meeting with the nation's governors on tuesday and then addressing the business roundtable on wednesday. lou: thank you. ed henry, fox news chief white house correspondent. joining me now, a pulitzer prize-nning journalist, campaign strategists, former reagan political director of, veteran democrac campaign strategists. we thank you all for being here. let
stories. fiscal cliff talks getting ugly. the president is trying to sell his plan. republicans are furious. house speaker john boehner telling reporters the president needs to get serious. >>> former president, george h.w. bush is in stable condition this morning in a houston hospital. he was admitted a week ago and being treated for bronchitis. he's expected to be released in the next few days. he is 88 years old. >>> scientists report the mile thick ice sheets that cover greenland and antarctica are melting. we have lost tons of ice in the last 20 years raising the sea level by 7/16 inch. >>> thursday night football action. falcons in atlanta. they got off to a 17-0 lead before the saints scored a single point. atlanta defense had a good night. five interceptions. falcons go on to win it. they are now 11-1 on the year. atlanta could clench the nfc south if they lose to denver on sunday. >> all right. she's bruised, but not broken. coming up, inside lady liberty for a look at the damage left behind by sandy to see what needs to be done to get this american icon back up and run
think we go off the fiscal cliff. neil: really. >> if republicans cave, first. democrats are not putting anything on the table for cutting you know expenditures, and you know entitlements this is a ruse. if republicans cave, they -- there is a risk of a revolt in the republican party like they have never seen, boehner will be out, i think eric cantor will be out, they are treading on really thin ice, i can not imagine conservatives -- that are you either, intellectuall3 conservative class that speaks on fox news and writes and grassroots, will let this happen, they are going to get nothing, do you really think they are going to gettin gettin? neil: i'll ask the questions. challengcharlie gasparino the b. >> and franklin roosevelty grandson here. >> social security measure gives at least some protect to 50 millions of our citizens. twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink th core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10
edges closer to going over the fiscal cliff. democrats and republicans cannot agree how to raise revenue and cut spending. on january 1st, as many of you know, taxes go up and doeep spending cuts take effect. the sunday talk shows reflect how far apart they are what we will not do is extend those tax cut force the wealthiest americans. there's no possibility that we will find a way to get our fiscal house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making a concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> speaker boehner added he is flabbergasted by the administration's proposals while secretary geithner said he believes a deal can be reached by the end of the year. >>> we could find out this morning if the supreme court will take up the issue of same-sex marriage. at 9:30 eastern, the court releases its orders list. there's a possibility justices will hear cases that challenge the federal defen
whether or not the federal government is preparing to go off the fiscal cliff in particular this administration. he answered unfortunately in the affirmative. here's tim. >> if republicans do not agree to that is the administration prepared to go over the fiscal cliff. >> we face no prospect of agreement that doesn't involve the rates going up on the top two percent. >> brian: he also said he believes that the president needs to get control of the debt limit. that is a nonstarter. there is no way to get congress to give up control of debt limit. >> steve: republicans are saying let's cave and surrender on the tax issue. but coming up in 2013 we have leverage over the debt limit. remember the president of the united states his personal approval ratings went in the toilet. >> brian: as is the congress. >> steve: the congress didn't have as far to because they were close to the floor anyway. republicans say let's have leverage next time and the president said let's take that off of the table and from now on the president doesn't have to negotiate from congress. congress doesn't
to go off the fiscal cliff unless republicans give in and raise taxes up to 39.6% on the wealthiest americans, did he hesitate in his response at all? no? >> if republicans do not agree to that, is the administration prepared to go off the fiscal cliff? >> absolutely. if there is no agreement that doesn't involve rates going up. >> gretchen: is that what the discussion is about? if you're watching the main stream media, it's about tax, tax, tax, tax. why are we taxing so much? because we really do have a spending problem. >> steve: or a deep hole. >> brian: i thought it was interesting. does geithner ever speak and make you feel better? all he does is -- i have a sense that it's something terrible is about to happen. having said that and this communication ability aside, i'm stunned to see him playing politics. he's flat out playing politics. he added if the president doesn't get his own way and get the power action undependentsed power to raise the debt limit and take it away from congress, that's also a nonstarter. since when is getting into that and saying if we don't raise taxes
? >> the two leaders discussing the fiscal cliff by telephone yesterday. no word of significant progress with just 26 days remaining to get a deal done. but there are signs of compromise. oak e oklahoma's republican senator breaking ranks, saying he's okay with raising taxes on the rich. >>> two seizures off the coast of the dominican republic last month, authorities recovering more than 50 bails of coke. it is weighing close to two tons. the drugs had a street value of $45 million. it will now be destroyed. >> are you losing your keys or misplacing your wallet. >> yes. >> there may be a quarter-sized blue tooth enabled button to communicate with a smart phone. >> sneakers, that's hysterical. >> the app will have a radar feature if they're getting warmer or colder. >> my blackberry charger. that's what i need it for. >> it just has to tell you where it is. >>> a sticky situation on a highway. in new hampshire, a tractor-trailer loaded with a cargo of maple syrup overturned on the interstate near mansfield, new hampshire. diesel fuel also spilled on to the highway. >>> 17 minutes after th
and republican opening bids on the fiscal cliff. but the revenue side of the republican proposal just doesn't match up with reality. you can't get $800 billion in revenue from lowering rates and closing loopholes and deductions. can we get on that page? it doesn't come close to adding up, unless you get rid of just about every deduction for the middle class that's out there. is that what this election w@c about? president obama has been clear about it all along. >> unfortunately, the speaker's proposal right now is still out of balance. you know, he talks, for example, about $800 billion worth of revenues, but he says he's going to do that by lowering rates. and when you look at the pamath it doesn't work. >> you see, if we lower these rates, then the job creators will go out there end and all this money to hire a bunch of people, and that's going to contribute more to the tax base. and gosh, we're just going to take care of all of our problems. we have tried this stuff, and it didn't work. when leaders mcconnell and boehner feed the base, it makes it harder for them to come around and late
to stay. >> thank you very much. what's next for the fiscal cliff debate? republicans are furious and president obama drawing a red line over middle class taxes. want to bring in steven moore with "the wall street journal." so, hello, sir. >> hi. >> let me show you, here is his new book on taxes and wealth in america. you wrote an opinion piece, steven, saying democrats only want one thing, higher taxes. you say democrats probably won't offer any serious spending cuts. why do you think that? there's no compromise in sight here? >> i just don't see it. you know, don, i was thinking a couple of weeks ago they would certainly reach an agreement, we wouldn't fall off the fiscal cliff, that people's taxes wouldn't go up in january. but now i'm not so certain about that. as you look at the negotiations so far and, look, my sources are on the republican side of the aisle, but what they're saying to me is this president doesn't want to deal from us, he want a surrender from us. so far what has been offered as jessica said has really been, you know, poison to the republicans. i'm not going
the fiscal cliff negotiations going on on capitol hill. for young republicans right now, as you listen to what both sides are saying in this debate, where do young republicans fall on raising taxes for the wealthiest to help pay down the debt? >> sure. thank you for having us on today, of course. but i think it's just important that as a party, our candidates are making sure that our voices are modernizing, not necessarily moderating. we don't necessarily have to fundamentally change who we are as a party and who we are as republicans. we have to make sure that our voices on taxes, on spending on the economy, are heard loud and clear. just as meghan said, the economic issues are driving many young voters indeed. so where we stand on taxes is that they should be low, but most importantly, in regards to college students and younger voters, we need to make sure that when we graduate college, that we're put to that a job environment that we're able to live productively, that we're not burdened by higher taxes, that we're not burdened by the difficulties put forth by government spending at
republicans want to solve washington's fiscal cliff dilemma, and what the democrats are saying about it. we'll talk about that, and much more with our special guest this morning, the former british prime minister tony blair is with us. but planes from iran. revolutionary guards showing off what they are claiming to be is a captured american drone. coming up why the pentagon says don't believe it. >>> and baby makes three at buckingham palace. the royal couple, will and kate, creating a media frenzy on both sides of the pond with word that they are expecting. we're going to go live to london. >> talk about this morning, in addition to tony blair, we're talking to democratic congressman xavier becerra, republican senator ron johnson from the state of wisconsin, also pat houston, whitney houston's sister-in-law and manager and jeopardy champion ken jennings written a new book. it's tuesday, december 4th, "starting point" begins right now. >>> welcome everybody, you're watching "starting point." we're honored this morning to have the former british prime minister tony blair with us as our guest
's not the crisis -- >> they're going to do that. how damaging is the fight over the fiscal cliff to the republican party right now? let's take a look at what conservative commentator bill krystal said on fox. >> the republicans are at real risk in my view now of looking like they are defending -- keeping the current tax rates for the wealthy. at the end of the day president obama is selling a simple message, i want to keep taxes low for middle class americans, and republicans look like -- i'm worried they're in the position of looking this, if they don't care about the middle class and want to keep tax rates low for wealthier americans. >> yes or no, is he right? yes or no? >> i don't think so. it's far too easy. >> he's right. democratic strategists are giddy. for two years they've been trying to make this argument, the republicans are going to hold up -- >> let me go back. i think he's wrong. i think ultimately if we don't get a deal, it's bad for president obama, bad for his legacy, and bad for democrats. >> i think you're right, but i also think that your party lost this election, they should
the hour. with republicans and democrats now battling each other over the fiscal cliff, there may be one person who can unify washington. it's a shame he doesn't work on capitol hill, at least not yet. >>> earth as we've never seen it before. fascinating images from outer space, all in the same place. we'll have the photos for you in about ten minutes. pizza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. by december 22nd wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i kno
on fox news sunday. discussing the stalemate of the fiscal cliff between white house and republicans on capitol hill. i sat down with the anchor chris wallace to hear more about the exclusive interview interviews. >> you had two key players. >> we had tim geithner the point man for president. and john boehner, the point man for the congressional and house republicans. >> geithner made the offer to boehner on thursday. boehner said, tells us, he was flabbergasted and said you can't be serious. it called for doublebe what the president talked about in public. not $800 billion in new revenue but $1.6 trillion in revenue. only $600 million in entitlement and spending cuts. well, that is not one to one or three to one. more revenue than spending cuts. they are really far away now. i understand negotiations. i understand opening bid. for first time, it occurred to me they might not get it done. >> you get a sense hearing from both of them that is a real possibility. what do you make of the negotiation of the tactic? it seems like what secretary geithner behalf of the president brought to t
insisting with just a little cooperation from republicans, the dreaded fiscal cliff can be resolved. songman john yarmouth is a democrat from kentucky, the same state that mr. mcconnell, the senate minority leader, represents. good afternoon, sir. exactly what will it take to get republicans to play ball on this? do you have any idea, sir? you're there. what do they want? >> obviously it keeps changing. what's really clear right now is that they're trying to throw in all sorts of ancillary issues in this fiscal cliff debate and they have nothing to do with it. medicare, medicaid, social security, don't have anything to do with the fiscal cliff and neither does the debt ceiling. this is strictly a matter of statutory provisions that go into effect on january 1st, but they want to burden up this and muddy the water to basically, i think, to refuse to do a deal. >> right. because over in the senate, as i was saying, mitch mcconnell is refusing to even consider the president's proposal to maintain the bush tax cuts for those earning less than $250,000 a year, but to raise taxes on those earning
avoid the fiscal cliff, the fact that the republicans put out an offer, like their old offer before the president won re-election, it does feel like the two sides are talking, but they appear to be talking past each other. the clock is ticking in washington. ticking against a dealing. i think the two sides seem to hate each other more than ever. i don't now, it seems like the last 72 hours i was hoping it was going to get better and it seems like it got worse. i spent a ton of time this weekend hanging with old college chum, grover norquist. he's as certain as ever that republicans who have impure thoughts about violating his no new tax pledge will be targeted at the primary level by tea party members. i'm taking this masterful behind-the-scenes player at his word that he controls almost all the republicans. because almost all of them signed his oath. so a deal could be tough. plus i'm now calling for no vacation without legislation. no vacation without legislation. because the holidays are slated to begin in a couple of weeks. which doesn't give enough time to get the job done. so
for republicans going forward. our fiscal cliff-mas gift today alan smith gets down gangnam style. what the senator is saying about the video that's gone viral watching the daily rundown only on msnbc. u see this? oh, let me guess -- more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. restore revive rejuvenate rebuild rebuild rebuild when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a res
to continue the conversation on fiscal cliff. this one republican has really been making news with this -- we'll call it an outside the box idea to avoid at least part of this fiscal cliff. he is suggesting to extend the bush cuts for the 98% of americans right now since at least both sides agree that has to happen and then haggle over the top 2% later. >> the republican in the middle of this all is congressman tom cole from oklahoma. congressman cole, speaker boehner and others have thrown cold water on this idea. let's clear this up right now. you still stand by this notion, pass the tax cuts for the 98% right now, deal with the 2% after the new year but essentially let those da tax breaks for the top 2% expire? >> i do think where we agree on 98%, we should take that off the table so americans don't have to worry about that. that actually strengthens our position. at the end of the day it's a discussion amongst republicans over tactic, not a division or debate. the president would be well advised if he's serious to actually bring spending cuts and entitlement reform to the table. we haven'
cliff? >> if republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a time when the american economy is doing exceptionally well, then there will not be an agreement. >> but house speaker john bigger is digging in himself, admitting talks are going nowhere. speaker boehner also described the moment when secretary geithner first showed him the president's opening offer. >> i was just flabbergasted. i looked at him and said, "you can't be serious." i've just never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. right now i would say we're nowhere, period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. they've actually asked for more revenue than they've been asking for the whole entire time. >> what are the chances we're going to go over the cliff? >> there's clearly a chance. >> lindsey
on the fiscal cliff plan. what's the republican congressman have to say about it? opening bell is just 4 1/2 minutes away. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> you are watching cnbc's "squawk on the street." we're just a minute and a half away before the opening bell rings. we're right now looking at a slightly higher open according to the futures. could be a big session for luxury names. tiffany getting a downgrade getting whacked once again after the dismal numbers coming out yesterday morning. >> merrill lynch takes it down. i see people abandoning the name. people are tr
with republicans to get something done on the fiscal cliff. >> dan lothian, thank you. >>> two lucky ticket holders beat the odds and they will split the record $588 million powerball jackpot. one ticket was sold in arizona. the other many missouri. the winning numbers are 5, 16, 22, 23, 29, and the powerball is 6. victor blackwell is in atlanta. one person on facebook yesterday said to me it's better to burn the ticket, at least you get heat from it. for two people at least it's good they didn't burn it. >> it's 29 degrees out here, i wish i had the ticket i bought so i could get some heat. this morning i rolled over to determine if i was in the city where at least the winning ticket was sold. i found out i wasn't. million also have that moment this morning. so many people put their $2 down on the counter to win the largest powerball jackpot ever at $588 million. the second largest lottery jackpot, that was 656 million last march. this is happening because powerball made a move at the beginning of this year, increasing the ticket price from $1 to $2, which doubled the starting jackpot from 20 mill
bit. republican leaders say though are nowhere near on negotiations to avoid the fiscal cliff. >> and protest in tahrir square as anger continues to grow against egyptian president mohammed morsi. we'll have a live report. >> new information on what may have caused a freight train carrying dangerous chemicals to derail in new jersey. >> heather: the clock is winding down to a potential economic disaster. there has been a lot of talk apparently nothing to show for it. democrats and republicans blaming each other nor the standoff with your tax bill riding on the out come. unless an agreement is reached by the end of the month, bush-era tax cuts will expire triggering a rise in taxes by an average of 5%. that means a middle-class family will pay $2,000 more in taxes and married couples would be hurt because of marriage penalty. it doesn't include the budget consequences. $55 billion would be cut from the pentagon and another $55 billion slashed from domestic programs. an estimated 2 million jobs could be lost pushing the economy back into a recession adding to the misery to those
reform or any sign of common ground plan to avert the coming tax and fiscal cliff. joining us to talk about this, we're going to get a gop response, senate republican conference chairman john thune of south documeakota. welcome back to the show. "the washington post" runs an editorial today saying it's time for the president to unveil some leadership on entitlement reforms and spending cuts because he hasn't done it. i want to ask you at the president's pep rally today, did you hear any of those leadership reforms on spending and entitlements? >> i certainly didn't and, by the way, good evening, larry, it's nice to be with you again. i don't find myself often agreeing with the editorial page of "the washington post" but this time they had it right. the president right now, the pep rally today is going out again on friday is really a continue ways of the campaign when in fact right now what he ought to be doing is trying to find some common ground with republicans, with congress up here on capitol hill because we've got to do something to avert this fiscal cliff. the only way we do tha
. >> thank you. following the latest on the fiscal cliff fiasco. congress is facing the issue of the fiscal cliff and other tough economic decisions. why did just today republican leadership cancel tomorrow's session allowing the house to leave town with three days left on the legislative calendar? i'll talk with two democratic members of congress just and allyson schwartz and john yarmuth. i'll talk to roger simon. he has a scathing new column out on republicans. roger says, quote, listen to this, republicans have found their stab in the back. it was the minorities what done them in. that's what he wrote. we'll ask him about it. ♪ i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios stop! stop! stop! come back here! humans -- we are beautifully imperfect creatures living in an imperfect world. that's why liberty mutual insurance has your back with great ideas like our optional better car replacement. if your car is totaled, we give you
over the fiscal cff warning business executives, the economy could take another hit if republicans cide to extend just to middle class tax cuts to avoid the cliff for now and come back next year with more leverage to tie spending cuts and medicare reform to another hike in the nati's debt ceing. >> we're not going to play that game next year. if congress, in any way suggests they tie negotiations to debt ceiling votes, and take us to the ink of default again as part of a budget negotiation, i will not play that game. >> republicans held their meeting with small business owners and denied they are trying to punt until next year. >> i'll be here. i'll be available at any moment to sit down with the president to get serious about solving the problem. >> they noted the president has not scheduled any meetings with g.o.p. leaders in weeks and not offered a counterproposal to boehner's plan from last week. >> frankly, it was the balanced apoach the president's be asking for. we need a response from the white house. >> reporter: the president continues to envies the only impediment to t deal i
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prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans -- remember, it's only 2%. the size of the problem in some sense is so large, it can't be solved without rates going up as part of that. again, i think there's broad recognition of that reality now. >> one fallback option republicans are reportedly considering is to accept tax cuts for the middle class, allow rates to go up for the wealthiest, and then start the fight over again during debt limit talks early next year. yesterday at a business roundtable of ceos, president obama took a hard line, warning his opponents not to consider this strategy. >> if congress in any way suggests that they're going to tie negotiations to dell creting votes and take us to the brink of default once again as part of a budget negotiation, which, by the way, we have never done in our history until we did it last year, i will not play that game. >> well, i wonder, the president's saying, steve, that, you know what, we can
there is a big overplay by the democrats on this blaming the republicans if we go over the fiscal cliff. if you look back to 2010, a lot of buttons were pushed and thought it would be blamed on the republicans. short term blame on the republicans, long-term blame on the incumbent in office. >> all i can say, two years, november of 2014, is the next time for an election. 365 times 2, basically. a lot of memory loss there, you know, if both sides dig in. ultimately, president owns whatever happens at this point. >> exactly. in 2014, it's what happens then, not what happens in 2012. >> let's talk about today's ism. oh, my goodness, the low since '09 -- the employment index as you were study, give details. >> lowest in september '09, trending down since april. a lot of these numbers, obviously written off to sandy. but you really have to look. april 12th -- or april of '012, we didn't have a hurricane, it was trending down. is it because employers are nervous about what's going on, the nonsense going on in d.c. right now? and they're holding back on any decisions? i think it's more that than sandy.
is there is no fiscal cliff or debt cliff. there is a political cliff and he wants to push the republicans off. the debate is how much do republicans will surrender and then get blamed by their party or how much they won't surrender and get blamed for a recession. i have to say for president obama as bad as it looks it may be a winning hand. >> he's certainly playing the hand of someone who as he said in his press conference won the election. there is no compromise here. i think there is a fiscal cliff and there is a political cliff. the president has the upper hand. taxes go up in the way his base want on wealthy people and what he wants to do is say if you don't go along with me you republicans are responsible for raising taxes on the middle class and will be responsible for the recession that's almost certain to come. >> there is no serious debating over avoiding the fiscal cliff. it's a political fight. this is a democratic party that hasn't passed a budget in years. the press corps is on the same page. everyone is asking how much of your pledge will you betray? how many people press presi
over the fiscal cliff, this benefits him. the public will blame the republicans. okay. i suppose it's entirely possible. in fact, it's probable of that category. but does obama really want to start the second term going into recession again? the interesting thing, with this offer on the table, sequestration and the expiration of bush tax cuts for everyone is the best option for republicans right now. but as least under that, you can dispel this notion -- the biggest obstacle is this attitude of the public that we can solve the problem of the debt, we can solve the problem of entitlements just by raising taxes on the rich a little bit. it's fundamentally not true. but my attitude to say all right, fine, let's go with that. let's even go with tax increases for everybody. even that bottom bracket going up from 10% to 15%. let the bush tax cuts -- if they must expire, let them expire for everybody. and then we'll see how far tax increases can take us in dealing with these problems. and the answer is not that far at all. >> not that far at all. richard wolffe, you've been sitting here pa
one didn't come down and hit me over the head and knock me out. apple. if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power. right now he has the upper hand, then he can really roll them and intends to do so. it's reasonable to take some profits so you can pay the tax man more now rather than later. it's a wimpy thing, it's logical, makes perfect economic sense. so the stock gets hammered. it makes sense to sell it. but let's be less emotional and even clinical about this one. first, divide apple's share price by ten, now you have a stock that got crushed down to $54. when you do that, it isn't all that scary, is it? where does the pessimism fit in? when we have to endure the pin the tail on the selloff game, what excuses for the selloff myriad alibis i hear from today's action. apple's losing share to google, it doesn't have the right phones in europe, nokia's making a comeback, the mi
-called fiscal cliff. the president has set a goal. $4 trillion in debt reduction over the next decade. are there any specific ways of reaching that figure that both of you might agree on? >> well, you know, one compromise i can agree with democrats on, we need to cut military spending. so i think the compromise is conservatives like myself who think national defense is very important should compromise on military spending and liberals should compromise on entitlements and social welfare spending, that compromise should get to spending cuts. >> here is the question, though. both sides are going to have to compromise, beyond defense spending, any other compromise you could see you supporting? >> mostly has to be to me on the spending side. we used to spend about 20% of gdp. now spending 25% of gdp. federal spending has gone up at an alarming rate in the last four years. people come to me and said say we have to raise taxes on rich people. one there, is not enough money. two, when you raise rates, you get less revenue. sometimes you find when you lower rates, you get more revenue. >> wha
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